Dana proves gas with Egypt well

Dana Gas has proved gas in the Qawasim formation with the Al Tawil-1 exploratory well in the eastern Nile Delta.

Offshore staff

SHARJAH, UAE -- Dana Gas has proved gas in the Qawasim formation with the Al Tawil-1 exploratory well in the eastern Nile Delta. The well reached a total measured depth of 3,163 m (10,377 ft) and encountered 34 m (112 ft) of net hydrocarbon pay in the Qawasim sandstone reservoirs with excellent porosity and permeability, Dana says.

Upon testing, the well flowed at 23.5 MMcf/d of gas and 1,027 b/d of condensate (totaling approximately 5,000 boe/d). The added recoverable reserves, resulting from the successful drilling of the well, are currently estimated at 90 bcf of gas (16 MMboe), in addition to 4 MMbbl of associated condensate, the company says. Plans are underway to determine the optimum development scheme for the new discovery. Additional exploratory wells targeting similar objectives will be drilled in the West Manzala and the West Qantara concessions in 2008 and 2009.

The company is planning additional seismic interpretation and drilling activities for the remainder of 2008 and throughout 2009 to increase the proven reserves and production rates as part of the exploration and development plans for the area.

10/16/2008

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